--- title: "U.S. stock market midday update: Can a $9.6 million contract save the market? Recon Tech surged during the session but closed down 11.76%" type: "News" locale: "en" url: "https://longbridge.com/en/news/297072152.md" description: "Recon Tech fell 11.76%; Schlumberger rose 0.28%, with a transaction volume of USD 187 million; Baker Hughes rose 0.08%, with a transaction volume of USD 128 million; Halliburton rose 0.24%, with a transaction volume of USD 100 million; FMC Technologies rose 0.35%, with a market value of USD 29.6 billion" datetime: "2026-08-26T16:47:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/297072152.md) - [en](https://longbridge.com/en/news/297072152.md) - [zh-HK](https://longbridge.com/zh-HK/news/297072152.md) generator: "portal-rs" --- # U.S. stock market midday update: Can a $9.6 million contract save the market? Recon Tech surged during the session but closed down 11.76% **U.S. Stock Market Midday Update** Recon Tech fell 11.76%. Based on recent key news: 1. On August 25, Recon Tech announced that it had obtained a contract for oilfield production information system integration services worth RMB 9.6 million. This news quickly boosted the stock price during trading, but overall it still fell over 1%. The contract amount will be settled based on the actual workload of each section, and the project is expected to be completed by July 2028. Source: Zhitong Finance 2. On August 25, the contract announcement from Recon Tech attracted market attention. Despite a short-term surge during trading, the stock price ultimately closed lower. Source: Zhitong Finance 3. There have been no other significant news recently. The oil and gas industry has been quite volatile lately and requires attention. **Stocks with High Trading Volume in the Industry** Schlumberger rose 0.28% with active trading. Based on recent key news: 1. On August 26, Schlumberger signed a service contract with Venezuela's state-owned oil company PDVSA to obtain oilfield data. This collaboration may enhance Schlumberger's influence in the South American market, driving up the stock price. 2. On August 25, Schlumberger was selected as the strategic reservoir partner for the Havstjerne carbon storage project in Norway's North Sea. The technical and engineering solutions for this project may strengthen the company's position in the carbon capture field, boosting market confidence. 3. On August 25, Schlumberger announced a partnership with Harbour Energy to provide carbon storage services for European industrial emitters. This news may attract more investor attention, pushing the stock price higher. The energy industry is focusing on carbon capture, leading to increased market volatility. Baker Hughes rose 0.08%. Based on recent key news: 1. On August 25, the Royal Bank of Canada raised Baker Hughes' target price from $71 to $76. This move reflects market confidence in the company's future growth, driving up the stock price. Source: Benzinga The oil service industry has performed strongly recently, with noticeable capital inflows. Halliburton rose 0.24%. Based on recent key news: 1. On August 25, Halliburton received an integrated contract for the evaluation and development of the Brazil Bumerang oilfield awarded by BP. This contract involves drilling services, reservoir assessment, and integrated execution to accelerate the evaluation plan and reduce operational complexity. This news boosted the stock price. 2. On August 26, Halliburton announced a third-quarter dividend of R$ 0.59 per unit, with the last trading day on August 31 and the payment date on September 29. The news of the dividend distribution enhanced investor confidence, promoting the stock price increase. 3. On August 24, despite the weakening of U.S. Treasury yields, the overall performance of the stock market was poor, affecting market sentiment. Halliburton's trading volume increased, indicating signs of capital inflow. The energy sector is seeing capital inflows, and the dividend boosts confidence. **Stocks with High Market Capitalization in the Industry** FMC Energy Equipment rose 0.35%. Based on recent key news: 1. On August 25, analyst ratings showed that TechnipFMC was not included in the top recommended stocks list. Although TechnipFMC received a moderate buy rating, market analysts believe there are five stocks with greater investment value, which may have affected investor confidence in TechnipFMC, leading to stock price fluctuations. 2. There have been no other significant news recently. 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